Southlake Pavilion Southlake, TX

1959 W Southlake Blvd
Southlake, TX

Price: $3,200,000
Cap Rate: 6.33%
NOI: $202,565
Building Size: Approx. 10,022 Sq. Ft.
Lot Size: Approx. 1.16 Acres
Type: Multi-Tenant / Retail
Sub Category: Shopping Center
Year Built: 2006

Investment Overview

  • Highly Sought After Owner/User Opportunity in Southlake, TX, Located Off the Heavily-Trafficked Southlake Blvd. Corridor.
  • Below Market Rents With an Average of $19.48/Sf, Compared to $35.00/Sf in Similar Centers Nearby.
  • Built-In Rental Increases With Annual Rent Bumps in Existing Leases.
  • Strong Tenant Retention, With 46% of Tenants Occupying for Over 12 Years and 56% Over 9 Years.
  • Majority of Rent Roll Consists of Small, Leasable Suites (69% Under 1,400 Sf), With Potential to Convert Remaining 31% for Higher Rents.
  • Strong Demographics and High Spending Power in Southlake, TX, With Average Household Incomes Around $328,117 Per Year.
  • High Visibility and Traffic Counts Off Southlake Blvd., With Approximately 56,319 Daily Traffic Count, Making It Ideal for Various Retail/Medical Uses.